Loading ...Metals looking awful – Miners looking worse !!
Besides a Silver Post of Fully there is no technical analysis anymore on this site.
Do not get me wrong. I appreciate post on politics and conspiracy facts !!
Does anyone of you have a sober analysis on where the miners are headed ?
I do not fear for the metals (I can live with a 30% drawdown)
HOWEVER: I AM CONCERNED BY HOW THE MINERS ARE TRADING.
Great timing. I was about to draft a post about what we needed to see & what I was waiting for. We need to see a day where the stock market is down sharply, 2% or more and gold and silver rise sharply 1% or more for gold and 2% or more for silver. At the same time the miners need to be up multiples of their respective metals gains. Today could be that day but up until now, anytime it looks like we will get such a day it fades and fails. It would be especially positive if it came on a reversal like from this mornings declines in gold and silver if the metals rally stronger from here. As you pointed out, the miners have to participate as well with outsized gains to reflect that the downtrend is over. We shall see if today is that beginning?
Actually quite a few of the miners and stocks like GDX and SILJ refused to make new lows on the lower lows in the metals.
Good Question Mouse
The answer is Miners SUCK
They have been the worst place to put money of all sectors for YEARS
They have underperformed the Metals for 2 decades
So the Question is…WHY BOTHER ?
ps…RAMBUS JUST WENT SHORT
Why bother, indeed. Meanwhile, all around us, other shares have delivered stellar results. Plenty of opportunities to double and triple your money over the last 9 months.
I’ve been an idiot far too long. Gold “investing” is a sickness, difficult to cure. VERY difficult.
“is a sickness, difficult to cure”
Not hard at all, if you use charts. The other day I discussed Buy Signals and Time Frames. I don’t buy charts where the monthly MACD is negative (speaking illustratively). I only buy confirmed bull markets essentially (figuratively). And inverse ETFs are shifting into that mode for me. There’s always a bull mkt somewhere. Define it, then find it.
sheesh
Rambus short now? FWIW the DSI daily sentiment index came down to 7 yesterday. Scale is 1-100. Seems to me that for as long as I have watched this sentiment indicator it works better catching tops than bottoms but 7 is extremely low. To compare back at the 2011 Silver top the DSI reached 96.
My friend’s EW take on gold.
And IMO, he’s an optimist.
https://imageshack.com/i/poTqdepRj
His call is for a sideways cycle degree IV (ABCDE from 2011).
Mine has been for a zig zag IV (ABC, where C is down near A at 1045)
We are only one hour into the trading day but so far it is looking quite well that today may be the day I was describing in my earlier comment.